Blockchain Game Developer Animoca Brands Raises $65 Million – Ubisoft, Sequoia China Participate in Funding
On Wednesday, the global developer utilizing popular brands, gamification, A.I., blockchain, non-fungible tokens (NFTs), and mobile technology, Animoca Brands announced the company has closed a capital raise for $65 million. Animoca Brands now has an overall valuation of $2.2 billion after raising funds from firms like Liberty City Ventures, Ubisoft Entertainment, Sequoia China, and Dragonfly Capital.
Animoca Brands Raises $65 Million
In July, Animoca Brands announced the company raised $138.88 million in order to deliver digital property rights via non-fungible token (NFT) technology. The company Animoca Brands was co-founded by Yat Siu in January 2014 and in recent times the company has been focused on blockchain gaming and NFTs. Animoca Brands has backed Sky Mavis the creators of Axie Infinity and the leading NFT marketplace in terms of trade volume Opensea.
“Animoca Brands is bringing digital property rights to online users, primarily for consumer video game players and the metaverse, through the use of blockchain and non-fungible tokens (NFTs); these technologies enable the true digital ownership of users’ virtual assets and data, and offer various play-to-earn capabilities, asset interoperability, and defi/gamefi opportunities,” the Animoca capital raise announcement details on Wednesday.
Animoca Brands Co-Founder: ‘The Future Digital Property Rights Would Revolutionize Industries by Expanding Financial Inclusion’
Investors in the latest funding round include Liberty City Ventures, Ubisoft Entertainment, Sequoia China, Dragonfly Capital, Com2uS, Kingsway Capital, 10T Holdings, Token Bay Capital, Smile Group, and Tess Ventures. The firm further conducted a pre-money valuation with an estimate of $2.2 billion.
Alongside the aforementioned Animoca Brands investors, MSA Capital, Octava Fund, Adit Ventures, Summer Capital, Sigitech Holdings, Black Anthem Ltd, Mirana Corp, and Tron’s Justin Sun joined in on the latest $65 million financing round. Animoca Brands boasts blockchain game projects like The Sandbox, Formula E: High Voltage, F1 Delta Time, and REVV Racing.
“I believe that the gaming, art, and music industries are entering a digital renaissance period uniquely enabled by blockchain,” Mia Deng, partner at Dragonfly Capital, said in a statement sent to Bitcoin.com News. “Yat and his team have demonstrated vision and foresight from the beginning and we are therefore excited to partner with Animoca Brands to build some of the largest on-ramps of the virtual world.”
The co-founder and executive chairman of Animoca Brands, Yat Siu, detailed that the company believes in the “future digital property rights” and this innovative trend would “revolutionize industries by expanding financial inclusion.” NFT adoption in games, Yat Siu said has proven that the “future is already here.”
What do you think about Animoca Brands raising $65 million to bolster digital property rights, blockchain games, and NFTs? Lets us know what you think about this subject in the comments section below.